New Street Research - NetEase Inc. Sponsored ADR (NEH) NTES 4Q23 Results: Gaming Could Remain Resilient Driven by New Titles in 2024

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New Street Research

Jin Yoon

NTES 4Q23 Results: Gaming Could Remain Resilient Driven by New Titles in 2024

What's new: NetEase’s reported 4Q23 results were below consensus and our expectations. Gaming could remain resilient in 2024 partly driven by new title launches such as Condor Heroes, Where Winds Meet, and Naraka Bladepoint mobile. We maintain our PT at USD125.

Analysts:
Jin Yoon

01/03/2024 1 EN

Underlying

NetEase Inc. Sponsored ADR

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US64110W1027 Berlin Stock Exchange Germany

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New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

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Analysts

Jin Yoon

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NTES 4Q23 Results: Gaming Could Remain Resilient Driven by New Titles in 2024

China Internet: Rewarding shareholders in 2023; emerging strategic growth prospects in 2024.

NetEase Inc: 1 director

ATUS: quick thoughts following the call

Amazon.com (AMZN, Buy, raising target to $245 from $235) AMZN 1Q24 Model Update

ATUS 1Q24 Quick Take: EBITDA and broadband trends a little worse

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